Chase boosts easy-access financial savings account by 1.25% to fireplace it up the perfect purchase desk – however just for new prospects

Chase Bank has added a bonus rate of 1.25 per cent to its easy-access account, bringing the overall rate to 4.75 per cent – but only for new customers who joined after 9 December. 

The 1.25 per cent bonus, 25 basis points higher than its previous bonuses of 1 per cent, sits on top of its 3.5 per cent easy-access account – boosting the underlying rate for six months until 9 June 2025. 

The managing direct of savings at Chase said the move was a bid to attract new customers. 

Last month, Chase cut the rate on its easy-access saver from 3.75 per cent to 3.5 per cent after the Bank of England cut the base rate to 4.75 per cent.

Shaun Port, managing director of savings at Chase, said: ‘We want to help people make the most of their money, while encouraging them to experience saving with Chase for the first time.’

Savers must open the easy-access savings account within 31 days of opening a Chase current account to get the 1.25 per cent bonus rate. 

Bonus boost: Chase has added a 1.25% bonus rate to its easy-access deal boosting it to 4.75%

Chase’s easy-access rate is linked to the Bank of England’s base rate. That means if the base rate falls, so too does the rate Chase pays customers. 

But the bonus will remain fixed for six months even if the underlying rate is cut.

Chase has made several changes to its current account and associated easy-access account in recent months, including swapping the 1 per cent interest it paid on current account balances for 1 per cent cashback.  

How does it compare to other easy-access deals? 

The boost brings Chase’s easy-access deal to just below the best buys on This is Money’s independent saving tables. 

If you joined Chase before 9 December 2024, there are several other good easy-access deals you can get. 

Savers can bag a 4.85 per cent deal from Atom Bank, though this also contains a bonus rate for savers who don’t withdraw money from the account. Savers who withdraw money will get a rate of 3.25 per cent. 

Monument Bank is paying 4.81 per cent to savers with pots of £25,000 or more. 

Savers can open the Chase easy-access account with deposits starting from £1. 

Savers looking for easy-access account should also consider a tax-friendly cash Isa to keep as much of their savings tax-free as possible. 

These accounts allow you to funnel up to £20,000 per tax year into them and all of the interest is free from tax. 

Trading 212’s cash Isa* paying 4.9 per cent and allows savers to access theur money as many times as they like without the rate dropping. 

*The links with asterisks here are affiliate links. If you open an account using them, This is Money will earn an affiliate commission. We do not allow this to affect our editorial independence.